Total Cost of Employee RD Kagen employs Audrey Lopez at a salary of $32,500 a year. Kagen is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45% on Lopez's salary. In addition, Kagen must pay SUTA tax at a rate of 5.4% and FUTA tax at a rate of 0.6% on the first$7,000 of Lopez's salary. Compute the total cost to Kagen of employing Lopez for the year. If required, round your answer to the nearest cent